US Firm Offers NHL $3 Billion Buyout

A published report in Canada says a U.S.-based investment firm and a sports advisory company have made a joint offer to buy the National Hockey League and all 30 of its teams for more than three billion dollars.

The Toronto Star newspaper says Boston-based companies Bain Capital Partners LLC and Game Plan LLC made the offer Tuesday during a 30 minute presentation to NHL owners in New York. The two companies are said to believe that many NHL owners would welcome the chance to get out of the hockey business.

Last month, the NHL became the first major North American pro sports league to cancel an entire season because of a labor dispute. Team owners say they have lost a total of $500 million over the past two seasons.

It is not clear whether team owners, particularly those in the larger markets, would be interested in accepting the reported offer.